Kathy Gannon is the new owner of Kathys Computer Services. At the end of July 2014, her
Question:
At July 31, Kathy owed employees $1,100 in salaries that the company will pay in August.
On July 1, Kathy borrowed $20,000 from a local bank on a 10-year note. The annual interest rate is 9%.
Service revenue unrecorded in July totaled $1,600.
Prepare the adjusting entries needed at July 31, 2014.
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Related Book For
Accounting Tools for Business Decision Making
ISBN: 978-1118128169
5th edition
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
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